China to Double, Unexpected Trump Lesson, RBA Fine-Tune: Eco Day

Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • Chinese President Xi Jinping said the economycan double in size by 2035 and can reach high-income status in the next five years
  • The past four years could turn out to have been avery loud civic lesson in the misguided economics of protectionism and the costs of tariffs and economic nationalism, writes Shawn Donnan
  • Australia’s central bank islikely to have to fine-tune its new QE-led stimulus program, writes James McIntyre
  • President Donald Trump and Democratic nominee Joe Bidenboth projected confidence on Tuesday, touting long lines at some polling stations as signs they were poised for an Election Day victory
  • What started as a political spat between Beijing and Canberra has becomea one-sided trade war that threatens serious disruption for an expanding number of Australian exporters
  • New Zealand’s joblessrate rose in the third quarter as companies were forced to fire workers in the aftermath of the Covid recession
  • U.K. Home Secretary Priti Patel raised the terrorist threat level to “severe,” meaning anattack is “highly likely.” Meantime, Austrian Chancellor Sebastian Kurz wasthrust into the forefront of Europe’s battle with radical Islam after a gunman went on a rampage

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